What is car finance?
Car finance is a way of borrowing money to fund the purchase or lease of a new or used car. The common types of car finance include Personal Contract Purchase (PCP), Hire Purchase (HP), Conditional Sale (CS) and leasing.
How does car finance work?
Whatever car finance option you choose, you will usually begin by paying a deposit followed by regular instalments. Depending on the type of car finance you have, at the end of the contract, you will own the car, and have the option to purchase it or return it to the dealership. You can use car finance on used cars and new cars.
